https://www.scmp.com/rss/521989/feed The latest news and top stories on the Hong Kong Federation of Insurers (HKFI). A prominent Hong Kong-based professional association, the Hong Kong Federation of Insurers (HKFI) is a self-regulatory body established in 1988 and recognised by the Government as the representative voice of the insurance industry. Headquartered in Wan Chai, its primary mission is to promote the industry’s development, represent members’ interests and enhance competitiveness. The HKFI focuses on encouraging best... en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Leopold Chen Leopold Chen Medical claims paid by Hong Kong insurers could double within a decade, a study has warned, raising concerns over the sector’s sustainability. The findings, released on Tuesday, showed total medical claims in the city rose by more than 60 per cent between 2019 and 2023, driven largely by a surge in inpatient bills, especially for day procedures. “If such an increase continues at the same rate, it will raise serious concerns about the affordability of private health insurance for both employers... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3351691/hong-kong-insurers-health-jeopardy-medical-claims-could-double-decade?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3351691/hong-kong-insurers-health-jeopardy-medical-claims-could-double-decade?utm_source=rss_feed Tue, 28 Apr 2026 08:24:46 +0000 Oscar Liu Oscar Liu Hong Kong police have arrested nine people over their alleged involvement in a travel insurance fraud syndicate that staged overseas accidents to claim more than HK$1.7 million (US$217,053). The force said on Thursday it had received a report from the Hong Kong Federation of Insurers in October concerning suspicious travel insurance claims, ranging from “a few thousand to tens of thousands of Hong Kong dollars”. “Police analysed more than 70 suspicious claim cases and discovered that these... https://www.scmp.com/news/hong-kong/law-and-crime/article/3351121/hong-kong-police-arrest-9-over-hk17-million-fake-travel-insurance-claims?utm_source=rss_feed https://www.scmp.com/news/hong-kong/law-and-crime/article/3351121/hong-kong-police-arrest-9-over-hk17-million-fake-travel-insurance-claims?utm_source=rss_feed Thu, 23 Apr 2026 07:36:02 +0000 Julie Zhang Julie Zhang Hong Kong’s export credit insurer is keeping premiums low and expanding support for small and medium-sized enterprises (SMEs), even as geopolitical tensions in the Middle East raise concerns about risks to global trade. Unlike the typical trade credit insurance model – where insurers raise premiums when geopolitical risks increase – the Hong Kong Export Credit Insurance Corporation (HKECIC) said it had continued offering concessions to exporters to help them weather uncertainty. “In the... https://www.scmp.com/business/banking-finance/article/3346369/hong-kong-export-credit-insurer-keeps-premiums-low-despite-middle-east-tensions?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3346369/hong-kong-export-credit-insurer-keeps-premiums-low-despite-middle-east-tensions?utm_source=rss_feed Thu, 12 Mar 2026 11:00:17 +0000 SCMP Editorial SCMP Editorial Driving can be challenging in Hong Kong, where despite high safety standards there are dozens of accidents each day on the city’s busy road network. Unfortunately, motorists face a new hazard – scammers making bogus claims. Police announced several arrests on Wednesday, a week after the force and insurers raised the alarm about unusually high and belated compensation claims for minor or non-existent traffic accidents. Victims and the insurance industry have been steadily reporting cases since... https://www.scmp.com/opinion/comment/article/3342499/swift-action-traffic-accident-scams-hong-kong-be-commended?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3342499/swift-action-traffic-accident-scams-hong-kong-be-commended?utm_source=rss_feed Thu, 05 Feb 2026 22:45:08 +0000 Leopold Chen,Edith Lin Leopold Chen,Edith Lin Around 85 per cent of insurance claims for damage caused by Hong Kong’s deadliest fire in decades have been settled, with nearly HK$510 million (US$65.3 million) paid out in total, the industry’s regulator has said. The Insurance Authority said on Tuesday that firms had settled 1,032 claims related to the Tai Po blaze that broke out last November, accounting for around 85 per cent of them. “The [authority] is aware that a majority of claims have been successfully settled based on the principle... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3342235/85-insurance-claims-related-tai-po-fire-settled-totalling-hk510-million?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3342235/85-insurance-claims-related-tai-po-fire-settled-totalling-hk510-million?utm_source=rss_feed Tue, 03 Feb 2026 09:02:40 +0000 Enoch Yiu Enoch Yiu Hong Kong insurance companies and brokers from Wednesday are barred from paying excessive referral fees to unlicensed individuals, as the city’s insurance regulator bolsters efforts to curb misconduct and enhance customer protection. The city’s Insurance Authority has put a 50 per cent cap on commissions for referral fees in life insurance policies, a move that provides long-term life protection and dividends to policyholders, according to the regulator’s circular. The cap will not cover... https://www.scmp.com/business/article/3327432/hong-kong-regulator-puts-50-cap-referral-fees-insurance-sales?utm_source=rss_feed https://www.scmp.com/business/article/3327432/hong-kong-regulator-puts-50-cap-referral-fees-insurance-sales?utm_source=rss_feed Wed, 01 Oct 2025 05:00:10 +0000 SCMP Editorial SCMP Editorial New technologies and investment fields need new talent, and fintech is no different, but Hong Kong could soon run out of local specialists. The city’s banks are upgrading with artificial intelligence (AI) and branching out into green finance and financial services in Southeast Asian countries and the Middle East. All these fields are potentially lucrative, but there might not be enough talent to meet demand in the next five years. That is according to a survey of 147 local banks led by the Hong... https://www.scmp.com/opinion/comment/article/3323311/combined-effort-needed-ensure-hong-kong-has-talent-future?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3323311/combined-effort-needed-ensure-hong-kong-has-talent-future?utm_source=rss_feed Wed, 27 Aug 2025 23:15:13 +0000 Enoch Yiu Enoch Yiu This week’s record-breaking deluge may rank among Hong Kong’s costliest natural disasters for insurers, as the owners of cars and properties started to submit claims for damages caused by 11 hours of the highest category of rainstorm. The payouts may top the damages caused by last month’s Typhoon Wipha, but will be less than the HK$1.54 billion (US$196.2 million) havoc wrought by the last black rainstorm in September 2023, thanks to the mitigating measures taken by the government and business... https://www.scmp.com/business/banking-finance/article/3320958/2025-black-rainstorm-may-be-among-hong-kongs-costliest-natural-disasters-insurance?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3320958/2025-black-rainstorm-may-be-among-hong-kongs-costliest-natural-disasters-insurance?utm_source=rss_feed Wed, 06 Aug 2025 10:30:07 +0000 Sammy Heung Sammy Heung An expert has stressed the importance of buying insurance coverage for the structure and content of Hongkongers’ homes after a Cheung Sha Wan flat’s window wall was among those shattered when Typhoon Wipha struck the city. Selina Lau Pui-ling, CEO of the Hong Kong Federation of Insurers, on Monday called on flat owners to ensure that their homes were insured to reduce financial losses, especially as extreme weather could become more common in the coming years. Wipha struck the city on Sunday,... https://www.scmp.com/news/hong-kong/society/article/3319044/how-insurance-can-help-hong-kong-homeowners-weather-typhoons-aftermath?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3319044/how-insurance-can-help-hong-kong-homeowners-weather-typhoons-aftermath?utm_source=rss_feed Mon, 21 Jul 2025 12:15:59 +0000 Jiang Chuqin Jiang Chuqin Veteran Hong Kong Cantopop star Jenny Tseng shared online that she had fallen victim to theft recently, losing luxury items such as Louis Vuitton products from her checked luggage. Her case highlights a common concern for many travellers about safety while flying. The Post examines the steps you can take to safeguard your personal belongings and how to submit an insurance claim for stolen items. 1. What happened to Jenny Tseng? The 72-year-old singer said on Thursday that she was alarmed at... https://www.scmp.com/news/hong-kong/society/article/3318790/flying-luxury-items-lessons-hong-kong-singer-jenny-tsengs-theft-experience?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3318790/flying-luxury-items-lessons-hong-kong-singer-jenny-tsengs-theft-experience?utm_source=rss_feed Fri, 18 Jul 2025 11:00:27 +0000 Enoch Yiu Enoch Yiu Christopher Hui Ching-yu has recently been on a world tour, conducting roadshows in Canada, the UK and Norway, in an effort to urge global businesses to redomicile in Hong Kong. The main talking point for Hui, the Secretary for Financial Services and the Treasury, has been a new law, enacted in May, that sought to make it easier for overseas companies to reincorporate in the city. Just a few days after the law came into force, Hui flew to Canada to meet senior executives from insurers Manulife... https://www.scmp.com/business/article/3316957/hong-kong-wants-be-dominant-domicile-worlds-biggest-companies?utm_source=rss_feed https://www.scmp.com/business/article/3316957/hong-kong-wants-be-dominant-domicile-worlds-biggest-companies?utm_source=rss_feed Sat, 05 Jul 2025 02:00:14 +0000